2018 Annual Report

VA C AT I O N L A N D F E D E R A L C R E D I T U N I O N

Federally Insured by NCUA

INSURED DEPOSITS

Member depository accounts are insured up to $750,000. The fi rst $250,000

of insurance is provided by NCUA’s National Credit Union Share Insurance Fund.

The remaining $500,000 is provided by private insurance from Excess Share

Insurance Company, paid for by VacationLand Federal Credit Union.

ANNUAL MEETING

The Annual Meeting of the Credit Union’s owners will be held at 8:00 A.M. on

Wednesday, March 13, 2019 at our Corporate Headquarters, 2911 Hayes Avenue,

Sandusky, Ohio.

CORPORATE HEADQUARTERS

VacationLand Federal Credit Union

2911 Hayes Avenue

Sandusky, Ohio 44870

Telephone: 419.625.9025/800.691.9299

INDEPENDENT AUDITORS

Doeren Mayhew, CPAs and Advisors

305 West Big Beaver Road

Troy, Michigan 48084

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Corporate Profi le

In 2010, the Credit Union extended its membership into

Huron County, Ohio by merging with School Employees

Federal Credit Union (SEFCU) to include employees of

the Boards of Education who work in Huron County and

employees of the Board of Education of EHOVE Joint

Vocational School in Erie County.

In 2017, the Credit Union expanded its membership through

the merger with the Sandusky Ohio Edison Employees

Federal Credit Union. Membership eligibility extends to

employees of the Ohio Edison Company who work in

Sandusky, Bellevue, Port Clinton or Norwalk, Ohio; spouses of

persons who died while within the fi eld of membership of this

credit union; retired persons, members of their immediate

families; and organizations of such persons. 

Today, VacationLand Federal Credit Union is a member-

owned, not-for-profi t fi nancial cooperative dedicated to

being the lifetime fi nancial institution of its members, by

providing services at lower or no fees, or loans with lower

rates plus deposit products with higher dividend rates.

VacationLand Federal Credit Union is a federally chartered

credit union, regulated by the National Credit Union

Administration (NCUA), an agency of the federal government.

Credit unions are the only democratically controlled fi nancial

institution in the U. S. Members elect a volunteer board of

directors to govern the credit union. In contrast, banks are

for-profi t entities, governed by a paid board of directors, with

all profi ts benefi ting the bank shareholders.

The Credit Union off ers its members a full suite of fi nancial

products including mortgage, home equity, consumer,

student and credit card loans and a wide array of savings,

checking, money market and certifi cate deposit products.

The Credit Union supports community employment

opportunities by funding local small businesses. Business loan

products include equipment, auto, truck, lines of credit and

commercial real estate loans.

With $231 million in assets, VacationLand Federal Credit

Union, headquartered in Sandusky, Ohio serves over 19,400

members, businesses and organizations at fi ve branch offi ces

and 11 ATMs in the cities of Sandusky, Huron, Norwalk and

Vermilion. We serve our members at over 5,000 plus CO-OP

Shared Branches and at over 32,000 MoneyPass and over

5,000 Alliance One surcharge-free ATM locations in the United

States. Through 24-hour online banking, Remote Deposit

Capture and CU*Talk Telephone Account Access, we serve

members wherever they are.

VacationLand Federal Credit Union is a member of

Corporate One Federal Credit Union, National Credit Union

Administration’s Central Liquidity Facility, Federal Reserve

Bank of Cleveland’s Discount Window and the Federal Home

Loan Bank of Cincinnati. VacationLand Federal Credit Union is

an Equal Opportunity Employer and an Equal Housing Lender.

VacationLand Federal Credit Union received Low-income

Designation through the NCUA, providing benefi ts to

VacationLand to help serve members who have challenges

accessing fi nancial products and services. Low-income

designation benefi ts include:

Accepting non-member deposits from any source

A gateway to community development fi nancial institution

(CDFI) certifi cation

Opportunities to apply for grants and low-interest loans

This is Your Credit Union

VacationLand Federal Credit Union, (the Credit Union), was founded in 1956 by employees of the Sandusky, Ohio General Motors Plant. In 2001, the Credit Union expanded its fi eld of membership including anyone who lives, works, and worships, attends school or has a business or organization in Erie County, Ohio.

2

VacationLand Federal Credit Union is much more than a place for banking. We live and work in northern Ohio, and we’re dedicated to helping our members and our communities prosper and thrive. Every member of VLFCU is part of our family. We care about you and your well-being instead of the bottom line.

When you become a member, you become a shareholder of VacationLand Federal Credit Union. We’ll work for you as we work with you to manage your fi nances, invest in a new home or business, or save for retirement. Working together, we can all succeed.

OUR VISION

To be our members’ chosen

lifetime fi nancial partner and

to improve our communities

for future generations.

OUR MISSION

Guided by our core values,

we exist as a not-for-profi t

cooperative to serve and

surpass by providing value

and fi nancial freedom.

How Your Credit Union Succeeds

About Your Credit Union

3

WE ARE MEMBER-OWNED

As a member-owner, regardless how much you

save or borrow, you determine who serves on the

Board of Directors. You have one vote for each

open Board of Director seat. Also, as a member-

owner, annual meetings are open to you. We

encourage you to att end.

WE ARE A COOPERATIVE

Cooperatives pool resources for the common

good. In like fashion, depositors of VacationLand

Federal Credit Union pool funds to lend to

one another. Through our structure and

operation, credit unions carry out the credit

union philosophy of “people helping people.”

At VacationLand Federal Credit Union, you’re

not just an account number—you’re a member

helping other members.

WE ARE NOT-FOR-PROFIT

We are out to protect your wallet, not fi ll our

own! We return profi ts to you, the members, in

the form of lower loan rates, higher dividend

rates, and low or no fees for services.

WE ARE VOLUNTEER DRIVEN

Each member of our Board of Directors is an

unpaid volunteer you have elected to work in

your best interest. Directors serve on Asset/

Liability Management, By-Laws, Policy, Facilities,

Marketing and Nominating committ ees, assisting

management in making decisions on how

to improve member products, service and

operational effi ciencies.

Put another way, VacationLand Federal Credit Union is diff erent. We are not a bank. We’re not a payday lender. We are a low cost fi nancial institution that you will want to be affi liated with for a lifetime. We appreciate the opportunity to serve you, and we value your membership. If you have experienced the VacationLand Federal Credit Union diff erence, please encourage your family and friends to discover the benefi ts of membership.

Many people may not know what makes VacationLand Federal Credit Union diff erent from

other fi nancial institutions. Here are just a few ways that demonstrate our uniqueness:

4

Governing Bodies of Your Credit Union

The 2018 Board of Directors is comprised of seven volunteers, elected by you, the members,

who are responsible for the governance, direction and control of the aff airs of VacationLand

Federal Credit Union in accordance with National Credit Union Administration rules and

regulations and sound business practices.

The Board of Directors dedicates its time and talent to make VacationLand Federal Credit

Union a premier credit union. It delegates the day-to-day activities through policies to Senior

Management of the credit union.

Directors serve for a term of three years with terms expiring at the end of each annual

meeting. The Director positions expire as follows: three Director Positions expire in one year

and two Director Positions in each of the succeeding two years.

Monthly meetings are held by the Board of Directors to conduct the business of the credit

union by reviewing its performance and policies. Once per year the Board of Directors also

meets with Senior Management for a full day session to develop the three-year strategic plan.

Top Row, Left to Right: Jude Hammond: Chairman – 2019 (Asset/Liability Management, By-Laws)

Jan Sadoski: Vice Chairman – 2021 (Nominating, Policy)

Marcia Renande: Secretary – 2020 (Asset/Liability Management, Marketing)

Tracy Luc: Treasurer – 2021 (By-Laws, Nominating)

Bottom Row, Left to Right:Joel Hassinger: Director – 2019 (Facilities)

Christine Giardina: Director – 2020 (Asset/Liability Management)

Elmer Lippert: Director – 2021 (Asset/Liability Management, Nominating)

TERM EXPIRATION (COMMITTEE MEMBERSHIP)

BOARD OF DIRECTORS

5

SUPERVISORY COMMITTEE

WILLIAM STAUDER Chairman

The Supervisory Committ ee consists of members appointed by the Board of Directors to serve one

to three year terms. These volunteers are responsible for assuring the safety of the credit union’s

assets and deposits, the soundness of management and compliance with various fi nancial and

regulatory requirements.

In fulfi lling these responsibilities, the Supervisory Committ ee recommends to the Board of Directors for

ratifi cation the appointment of an independent audit fi rm to annually examine the fi nancial statements

of the credit union.

An audit of the 2018 fi nancial statements was conducted by Doeren Mayhew CPAs and Advisors. The audit

report stated that VacationLand Federal Credit Union’s fi nancial statements present fairly, in all material

aspects, our statements of fi nancial position, results of operations and cash fl ows. The audit report for

2018 will be available around March 13, 2019 and you may request a report from:

Mitchell J. Fallis, CPA, CGMA, MBA, CCUIP

Chief Financial Offi cer

2911 Hayes Avenue

Sandusky, Ohio 44870

419.609.2718

The National Credit Union Association also conducts periodic examinations of the records, policies,

practices and the application of NCUA regulations upon VacationLand Federal Credit Union. VLFCU was

not examined by the NCUA during 2018 and therefore, we do not have anything to report this year.

Just like the Board of Directors, the Supervisory Committ ee also holds monthly meetings to, among

other things, review internal audit services, internal controls and risk management processes, and

examinations by regulatory agencies and the independent audit fi rm.

A representative of the Supervisory Committ ee att ends the monthly Board of Directors meetings

and shares their fi ndings. To date, the Supervisory Committ ee has reported that, in their opinion,

VacationLand Federal Credit Union has operated in a fi scally safe and sound manner and, in all material

aspects, in accordance with applicable accounting, federal, state, and NCUA regulations.

Your Credit Union is Being Led By Example

2018 Supervisory Committee members are: William Stauder,

Theresa Barylski, Christopher Palmer, Lynn Sartor and Jacquelyn

Streng. We are hopeful that 2019 will be another good year for

VacationLand Federal Credit Union as we all work together to

serve you, our members.

6

Message From the Chairman of the Board of Directors

Your Credit Union’s Chairman

VacationLand Federal Credit Union is continuing to grow. Our asset size has grown by an additional $15 Million to $230 Million at year’s end. In addition, the credit union has added total equity in excess of $2 Million to a total equity position of $24 Million. The Board continues to be challenged by how we can convert our capital to quality member service. VacationLand is a not-for-profi t collaborative whereby we work together to serve each other.

JUDE T. HAMMONDChairman of the Board of Directors

Service can be defi ned in many ways. Service can be seen in our branches when you are greeted by one of our staff

members or how you are treated with respect and support when applying for a loan. Service can be viewed when

you are using the online banking application. Service can be realized by providing fi nancial products that meet the

needs of our members. Service can be measured by off ering competitive interest rates. Service can be hidden from

sight and behind the scenes when our staff works diligently in making sure we are in compliance with the federal

and state laws with the goal of providing a safe and secure fi nancial institute that you can rely on without fear.

Service can be maximized when we have the resources to meet your needs.

Another way that we serve our members is by providing goodwill support to our community. We have been involved

in Coats for Kids, developed food drives, provided fi nancial education programs for our local students, conducted

Easter Egg Hunts, and donated to a number of charitable organizations. We will continue to explore opportunities

to support our local community as part of our way of giving back.

This year we will be developing plans to give back more to our members. We will be looking at ways to reward our

members for their loyalty and for making good fi nancial decisions. We also want to hear from you to determine if

we are meeting your expectations. We want to be your primary fi nancial institution. We also want to sustain our

relationship with you. Please feel free to contact us to provide your thoughts on how we can best serve you!

In closing, we wish all our members the best for 2019! We are here to serve you!

7

Message From the CEO

Your Credit Union’s CEO

I would like to take this time to express my gratitude to you, our members, for your continued support and trust in VacationLand Federal Credit Union, and for choosing us as your lifetime fi nancial partner. Our vision is clear: together we will strengthen our communities for future generations.

BRYAN P. MYERSChief Executive Offi cer

2018 was an exceptional year for VacationLand Federal

Credit Union, fi lled with change and progress. It’s

gratifying to look back at our achievements. Two major

accomplishments included continuation of work on our

non-interest revenue opportunities, and increasing our

deposit insurance coverage from $500,000 to $750,000.

The latt er assured us of being the only fi nancial institution in

Ohio to off er this level of deposit protection to its members.

2018 was also an excellent year in terms of member

satisfaction. Increased membership numbers are always

a good sign of customer satisfaction, and our team

members are always striving to meet or exceed our

customers’ expectations. Increased membership means

more opportunities for us to grow. Earlier in the year we

petitioned the NCUA for a fi eld- of- membership expansion

into other surrounding counties. And, although our request

was denied due to federal court rulings and considerations,

we remain committ ed to providing current members the

highest quality service, products, and expertise, all for your

convenience and peace of mind.

I am pleased to report that the credit union remained

fi nancially healthy in 2018, facing all the changes and

challenges imposed upon us head-on. Our 2018 fi nancial

statement conveys a 7.34% asset growth, compared to

6.01% in 2017; loan growth, 11.08%; our ROA increased to

.99%; our capital ratio was 10.80%; and membership grew

by 3.12%, an increase of 588 discerning new partners.

We can all take great satisfaction in knowing that our credit

union still remains in the top tier of Ohio credit unions.

I’m excited about what 2019 holds for us. Specifi c

plans include:

Streamlining internal operations to include improvements

in staffi ng to ease member service hiccups

Seamless succession planning, pending key retirements

Continuing to identify and implement non-interest

revenue streams; i.e., Member Business Lending, a credit

union service organization which provides national

comprehensive business lending services to credit unions

Supporting small businesses by providing loan products

which match their specifi c needs

Providing continual fi nancial education workshops online

Off ering new, ever-changing technologies to our

members as soon as they become available

10

FINANCIAL HIGHLIGHTS (*Unaudited)

December 31, 2018 2017 2016 2015 2014

AssetsCash and Equivalents $ 9,733,483 $ 5,835,484 $ 9,101,403 $ 9,653,004 $ 5,489,726 Investments 51,427,697 56,137,363 57,592,517 48,062,711 48,012,878Loans 162,656,691 146,429,833 129,820,630 119,736,934 109,310,640(less) Allowance for Loan Loss (1,648,114) (1,354,463) (1,170,428) (1,093,271) (1,029,382)Land, Building and Equipment, net 6,535,928 5,577,607 5,957,890 6,084,740 5,590,614Other Assets 2,285,395 2,573,771 1,697,424 1,518,500 1,898,344Total Assets $ 230,991,080 $ 215,199,595 $ 202,999,436 $ 183,962,618 $ 169,272,820

LiabilitiesOther Liabilities $ 1,306,826 $ 1,069,740 $ 2,512,169 $ 1,788,988 $ 1,546,239 Notes Payable 23,656,249 21,384,043 17,770,367 15,299,243 15,807,477Total Liabilities 24,963,075 22,453,783 20,282,536 17,088,231 17,353,716

Share Drafts 30,880,958 27,186,456 25,486,130 23,611,021 19,671,665Shares 110,429,982 112,274,208 106,426,776 96,791,820 89,922,809Certificates 35,506,709 28,411,579 28,682,992 26,075,914 24,621,183Non-member Certificates 4,459,104 2,278,128 1,340,000 1,092,606 0Total Deposits 181,276,753 170,150,371 161,935,898 147,571,361 134,215,657

Owners Equity (Capital)Regular Reserves 2,928,513 2,928,513 2,870,959 2,870,959 2,870,959Accum. Unrealized Gain/(Loss) - AFS (184,962) (135,957) (153,424) 10,693 15,073Undivided Earnings 22,007,701 19,802,885 18,063,467 16,421,374 14,817,415Total Equity 24,751,252 22,595,441 20,781,002 19,303,026 17,703,447Total Liabilities & Owners Equity $ 230,991,080 $ 215,199,595 $ 202,999,436 $ 183,962,618 $ 169,272,820

IncomeLoan Interest $ 8,204,527 $ 7,153,717 $ 6,626,475 $ 6,204,942 $ 5,735,483 Investment Interest 1,849,357 1,651,407 1,460,049 1,226,712 1,210,797Non-interest Income 3,442,985 3,207,838 3,183,913 3,166,518 2,944,045Gain/(Loss) on Sale of Assets 63,197 2,303 55,781 0 0Total Income 13,560,066 12,015,265 11,326,218 10,598,172 9,890,325

ExpensesStaffing 4,704,023 4,373,026 4,165,893 4,042,169 3,989,375Dividends 848,661 579,889 566,475 505,285 529,012Interest Expense on Borrowings 476,969 427,075 346,420 265,160 195,251Provision for Loan Losses 845,000 700,000 565,000 360,000 267,000Operating Expenses 4,480,597 4,266,529 4,040,338 3,821,598 3,382,841Total Expenses 11,355,250 10,346,519 9,684,126 8,994,212 8,363,479

Net Income $ 2,204,816 $ 1,668,746 $ 1,642,092 $ 1,603,960 $ 1,526,846

Financial RatiosReturn on Average Assets (ROAA) 0.99% 0.80% 0.85% 0.91% 0.94%Net Interest Margin 3.91% 3.73% 3.71% 3.77% 3.83%Operating Expenses to Average Assets 4.12% 4.13% 4.24% 4.45% 4.54%Efficiency Ratio 68.05% 71.92% 72.81% 74.25% 74.58%Loans to Shares 89.75% 86.08% 80.17% 81.74% 81.44%Allowance for Loan Loss to Total Loans 1.01% 0.92% 0.90% 0.91% 0.94%Net Charge-offs to Average Loans 0.36% 0.37% 0.39% 0.27% 0.40%Delinquent Loans to Total Loans 0.49% 0.63% 0.61% 0.54% 0.74%Capital to Assets 10.80% 10.56% 10.31% 10.49% 10.45%

Distribution of IncomeOperating Expenses $ 9,184,620 $ 8,639,555 $ 8,206,231 $ 7,863,767 $ 7,372,216 Dividends 848,661 579,889 566,475 505,285 529,012 Capital 3,049,816 2,368,746 2,207,092 1,963,960 1,793,846

Number of Members 19,435 18,847 18,113 17,533 16,833Number of Employees 72 72 71 65 64

* Copies of audited Financial Statements are available upon request

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Message From the CFO

VacationLand Federal Credit Union achieved another year of strong fi nancial growth in 2018 with total assets climbing to $231 million. Four key measures of fi nancial strength continued in 2018: Net Income, Loans, Deposits, and Capital.

MITCHELL J. FALLIS, CPA, CGMA, MBA, CCUIPChief Financial Offi cer

2018 IN REVIEW

Net Income eclipsed the $2 million mark for the fi rst time reaching

$2,204,816 in 2018, compared to 2017 net Income of $1,668,746. Loan

growth surged 11.1% in 2018. Loan quality showed modest improvement

with net charge-off s to average loans decreasing from .39% for 2017 to

.36% for 2018 coupled with a decrease in delinquent loans to total loans

from .63% from 2017 year-end to .49% at 2018 year-end.

Return on Average Asset (ROAA) is a key measure of a credit union’s

fi nancial health. The 2018 ROAA rose 19 basis points from 2017

reaching .99% compared with a 2017 ROAA of .80%. Net Interest

Margin improved to 3.91% for 2018 compared with 3.73% for 2017,

supported by higher loan and investment yields.

Revenues in 2018 increased by $1,544,801 and totaled $13,560,066,

compared with $12,015,265 in 2017. Loan Interest Income increases lead

the revenue growth at 14.7% along with increases in investment income

of 12.0%, followed by increases in non-interest income of 7.3%.

Total Expenses increased by $1,008,731 in 2018 to $11,355,250,

supported by increases in staffi ng costs of $330,997, dividends of

$268,772, interest of $49,894, operating expenses of $214,068, and

provision for loan losses of $145,000.

Total Assets rose by $15,791,485 or 7.3%, reaching $230,991,080 at

December 31, 2018. Asset growth was funded by growth in deposits of

$11,126,382, FHLB Borrowings of $2,272,206 and equity of $2,115,811.

Total Loans at December 31, 2018 grew by $16,226,858 as

VacationLand Federal Credit Union worked to satisfy member demand

for mortgages, auto loans, credit card loans, home equity lines of

credit, and member business loans.

Investments decreased by $4,709,666 to $51,427,697 at year-end

primarily to fund loan growth.

Investment Income for 2018 rose 12.0%, to $1,849,357, driven by an

investment strategy of reinvesting maturing securities into higher

yielding longer-term certifi cates, municipal and agency securities.

Deposits rose by 6.5% ending the year at $181,276,753. Deposit

growth was led by increases in certifi cates by 25.0% and Shares

Draft s by 13.60%.

The Credit Union’s Equity position climbed to $24,751,252 at

December 31, 2018. The Capital to Asset Ratio, another key

indicator of the fi nancial strength, rose to 10.80% at December

31, 2018 while the year ago ratio was 10.56%. Both ratios

are well above the 7.00% ratio required to be categorized as

“Well Capitalized” under National Credit Union Administration

regulations for prompt corrective action.

2019 A LOOK AHEAD

The Federal Open Market Committ ee raised the federal funds rate

four times during 2018 by 25 basis points each time. We forecast a

2019 interest rate environment with three increases in the federal

funds rate of 25 basis points, one in the fi rst quarter, one at mid-

year and the third near year-end. We expect the yield curve to

fl att en with short-term rates rising 50 -75 basis and longer-term

rates rising 20 - 25 basis points.

We anticipate a slight decrease in auto and home loan markets in

2019. VLFCU’s fi nancial mix of earning assets, deposits, borrowed

funds and capital coupled with our three-year fi nancial plan

positions us for success in 2019 and beyond.

We will minimize our long-term interest rate risk by funding fi xed

long-term mortgages and member business loans with fi xed long-

term borrowings from the Federal Home Loan Bank of Cincinnati

and member and non-member deposits.

The 2019 fi nancial plan incorporates a solid marketing strategy

coupled with education and training for our employees. We will

continue to focus on building relationships with existing and new

members to assist them in reaching their fi nancial goals.

We thank our employees, Board and Supervisory Committ ees for

their dedication. We thank you, our members, for your continued

support and look forward to a prosperous 2019.

12

NET INTEREST MARGIN/AVERAGE ASSETS MEMBERS RETURN ON AVERAGE ASSETS

Message From the Treasurer of the Board of D

2018 EARNINGS AND MEMBERSHIP GROWTH

Thanks to the loyalty of our long-term members and the infl ux of new

members, I am pleased to report another strong year for VacationLand

Federal Credit Union. Net Income for 2018 eclipsed the $2 million mark for

fi rst time ending 2018 at $2,204,816. The 2018 Return on Average Assets

surged to .99%, compared to .80% and .85% in 2017 and 2016, respectively.

Year over year membership growth is 3.1% growing from 18,847 in 2017

to 19,435 at 2018 year-end, a direct result of the eff orts from management

and staff to provide uncommon member service. We have managed the

Credit Union with integrity, protecting its safety and soundness, and thereby

fostering the confi dence of our members and our service communities.

TRACY LUC Treasurer of the Board of Directors

14 15 16 17 18

3.83%

3.77%

3.71%

3.73%

3.91%

14 15 16 17 18

16,833

17,533

18,113

18,847

19,435

14 15 16 17 18

0.94%

0.91%

0.85%

0.80%

0.99%

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EFFICIENCY RATIO CAPITAL/ASSET RATIO

Directors

On behalf of the Board of Directors, we wish to extend our thanks to the staff and management for meeting the fi nancial needs of our members with such great care and commitment.

2019 AND BEYOND

VacationLand Federal Credit Union makes decisions

with our members’ long-term interests in mind.

We will continue our history of giving back to our

members in the form of bett er rates, low or no

fees and more aff ordable fi nancial services. As in

past years, we continue to do our best to deliver

member-driven service as evidenced by continued

capital investments in our information technology

and related soft ware, ATM network, and website.

Thank you for your confi dence and loyalty in our

credit union.

DEPOSIT INSURANCE INCREASED FROM $500,000 TO $750,000

On December 1, 2018, VacationLand Federal Credit Union increased its

deposit insurance from $500,000 to $750,000 on all Depository accounts.

The NCUA’s National Credit Union Share Insurance provides the fi rst

$250,000 of deposit insurance. The remaining $500,000 level of deposit

insurance is provided by private insurance from Excess Share Insurance

Company, paid for by VacationLand Federal Credit Union.

More and more individuals, families and small local businesses are

discovering the benefi ts of a not-for-profi t fi nancial cooperative and are

moving their money from banks to credit unions. This year, our deposits

grew by 6.5% or $11.1 million to over $181.2 million compared with a 5.1%

growth during 2017.

Your Credit Union Thrives

14 15 16 17 18

74.58%

74.25%

72.81%

71.92%

68.05%

14 15 16 17 18

10.46%

10.49%

10.31%

10.56%

10.80%

14

Donations

HEATHER GILCHRIST Marketing Director

At the end of November, VLFCU was able to make four donations to area non-profi ts due to monies available

in our candy bar sales and employee jean day funds. Members purchase candy bars throughout the year

from our tellers, while employees donate $1 on Fridays and Saturdays to wear jeans. Aft er consideration by

a committ ee and employee input, donations totaling $5,000 were made to the Salvation Army of Sandusky,

the Humane Society of Erie County, Victory Kitchen, and Serving Our Seniors.

Additional donations were made to many organizations through monetary contributions and sponsorships

including the Foundation for Firelands, Stein Hospice, Cancer Services, United Way of Erie County, OHgo,

Community Youth Mentoring, Safe Harbour Domestic Violence Shelter, Erie Conservation District, Kendra’s

House, Norwalk Parks & Recreational Department, Children’s Miracle Network Hospital, Nehemiah Center,

Caryl Crane Youth Theatre, BGSU Firelands Scholarship Fund, Huron River Fest, Firelands Positive People,

Boys & Girls Club of Erie County, and Remember Crusin’ Car Club.

VLFCU’s community involvement was further demonstrated through our commitment to several other

on-going projects. Our Marketing Director, Heather Gilchrist, continued to co-chair Stuff the Bus Erie

County. Collaborating with the Sandusky Mall, United Way of Erie County, and the Volunteer Center, this

annual fundraiser provided new backpacks fi lled with school supplies to 400 elementary students att ending

Sandusky, Perkins, Sandusky Central Catholic, Margarett a, Edison and Vermilion school districts. A special

thanks goes out to the Sandusky Police offi cers who helped with inventory and bag stuffi ng.

VLFCU also renewed their partnership with BAS Broadcasting to sponsor Coats for Caring. Hundreds, if not

thousands, of coats and warm clothing were donated. Aft er items were cleaned by Maytag Laundry, they

were distributed to area residents in Erie and Huron counties by the Department of Jobs & Family Services.

In conjunction with the coat drive, VLFCU once again hosted our Annual Toy Drive. With the help of our

membership, area residents, and Stefano Dental, we were able to donate several hundred toys to children in

Erie and Huron counties.

The impact we made in 2018 was astounding, but we owe much of the success to our VLFCU members!

Each year members step up to donate money, buy a candy bar or two, and drop off coats, toys, and school

supplies. No matt er the size or shape of the donations, they all add up to ways we help pay it forward in our

local communities.

In 2018 VLFCU did our best to increase our community involvement and membership experience. Management and staff worked together to ensure that we donated, empowered and educated individuals and non-profi ts in an eff ort to promote both individual and community success.

Your Credit Union in the Community

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Investing in Our Membership & Communities

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Education & Empowerment Financial Literacy and student success continued to be a focal point in 2018. Several managers volunteered for Junior

Achievement in Erie County, as well as Finance 101 in Huron County. Instruction was also provided through classroom

presentations to high school students in Huron and at EHOVE. During Credit Union Youth Month, we engaged with our younger

members by encouraging them to take part in age-appropriate fi nancial skill contests. Additionally, we awarded six scholarships

to member-students graduating from Huron, Edison, Perkins, Margarett a, Sandusky, and Vermilion school districts.

Our educational eff orts, however, were not solely devoted to the younger generation. In fact, VLFCU invested in a new

digital education initiative geared toward every aspect of life. Our Financial Empowerment program provides our members

and community with an engaging learning experience around critical personal fi nance topics such as building emergency

savings, mortgage education and retirement planning.

Highlights of the program include:

Opportunities to apply for grants and low-interest loans

A series of 3-10 minute, interactive learning modules on key fi nancial topics.

Several fi nancial tools and calculators

Mobile and tablet enabled so you can learn anytime, anywhere.

Available in English and Spanish

Your Credit Union in the Community

Your fi nancial well-being is important to us, and we are committed to providing you with resources to manage your money. We encourage you to share this resource with your family, friends, and co-workers. To get started, visit www.vlfcu.org and click on the Financial Literacy page under the Member Center tab.

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INDEPENDENT FINANCIAL ADVISOR

David Karikas, of Preferred Planning Associates, off ers

more than 29 years of experience in non-deposit

investment products (a), insurance and fi nancial advice.

David’s services are available to VLFCU’s members. David

Karikas serves over 750 members with over $37 million

in invested assets. Additional products include Life

Insurance, Long-Term Care and Fixed Annuities. David is

located at our Perkins Offi ce, 2409 East Perkins Avenue,

Sandusky, Ohio or call 419 625.9025 Extension 1777.

(a) Non-deposit Investment Products: are not FDIC or

NCUA insured, are not obligations of or guaranteed by

VacationLand Federal Credit Union, involve investment

risk and may lose value. David Karikas is a Registered

Representative off ering securities through Cambridge

Investment Research, Inc., a broker/dealer, Member

FINRA/SIPC. Cambridge, VacationLand Federal Credit

Union, and Preferred Planning Associates are not

affi liated companies.

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PRIVACY POLICY

The Privacy Policy of VacationLand Federal Credit Union

describes how we safeguard our members’ fi nancial privacy.

Your fi nancial privacy is our priority. For more information,

visit us at www.vlfcu.org or call 419.625.9025.

ATM LOCATIONS

All fi ve of our branches are equipped with

ATMs to provide 24-hour access to cash funds.

Additionally, members can access their accounts

at the following business locations:

Firelands Regional Medical Center

1111 Hayes Avenue

Sandusky, OH 44870

2nd Floor – Vending Machine Area

Firelands Hospital – South Campus

1912 Hayes Avenue

Sandusky, OH 44870

Lower Level – Near Elevators

Sports Force Parks at Cedar Point Sports Center

3115 Cleveland Road W

Sandusky, OH 44870

International Automotive Components (IAC)

1608 Sawmill Parkway

Huron, OH 44839

Outside Plant Cafeteria

Vermilion - Main Street Soda Grill

5502 Liberty Avenue

Vermilion, OH 44089

Walk-Up ATM – East Side of Building

LOCATIONS

Hayes Avenue Branch

2911 Hayes Avenue

Sandusky, Ohio 44870

419.625.9025

Perkins Avenue Branch

2409 E. Perkins Avenue

Sandusky, Ohio 44870

419.625.9025

Huron Branch

2402 University Drive

Huron, OH 44839

419.433.3229

CONNECT WITH US

Social Media:

f/VacationLandFCU

t/VacationLandFCU

y/VacationLandFCU

i/VacationLandFCU

l/company/VacationLandFCU

Norwalk Branch

295 Milan Ave, Suite C

Norwalk, Ohio 44857

419.668.6346

Vermilion Branch

1607 State Route 60 N Suite 11

Vermilion, Ohio 44089

440.967.5155

Phone: 419.625.9025 or 800.691.9299

CU*Talk: 419.621.8328 or 877.256.3336

Website: www.vlfcu.org

Federally Insured by NCUA